Recovering from the silly season?

How to prepare for next Xmas from our friends at CFCU

Australians racked up around $28 billion in credit card debt over the Christmas period, so it comes as no surprise that many people will be spending the coming few months paying off debt and trying to recover from the silly season.

It’s not all over yet for many families who’re reaching into their pockets to keep the kids entertained for the rest of the school holidays. Paying off the holiday may have to wait. January can understandably be a time of financial stress for some.

But with a little planning and forward thinking, you can take some of the stress out of Christmas 2020 by taking advantage of a savings account from our friends at Community First Credit Union.

Community First have a savings account designed just for Christmas. Their Christmas Cracker savings account lets you add money to it throughout the year. The best bit is you can only access the balance between 1 November and 31 January each year. So you won’t be tempted to dip in to your money until it’s time to start Christmas shopping.

So set yourself an automatic credit to the account starting in January, and even with as little as $20 a week from the start of January to the start of November, you’ll have $880 (plus interest), so you can hit the shops ahead of the rush in November and give yourself a financial head start.

Make it $40 and you’ll have a healthy $1,760. That could make all the difference next Christmas. Find out more about the Christmas Cracker account and apply online here.

  1. Finder.com.au 2019, as quoted on news.com.au
  2. Early withdrawal will incur a fee. Refer to our fees and charges for further details.

    The information contained in this article is only correct at the point of time of publication. It is general information and has been prepared without taking into account your personal circumstances, objectives or needs. Please consider if this information is right for you before making a decision to acquire any product.

Community First Credit Union Limited ABN 80 087 649 938 AFSL/Australian credit licence 231204 P.O Box 98 Lidcombe NSW 1825

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